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What amount should be reported as gain on sale of investment

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Romania Company acquired 40,000 ordinary shares on October 1 for P6,600,000 to be held for trading. On November 30, the investee distributed a 10% ordinary share dividend when the market price of the share was P250. On December 31, the entity sold 4,000 shares for P1,000,000.

Problem 1: What amount should be reported as gain on sale of investment in the current year?

Reference no: EM132791820

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